The author is also misquoting, or misunderstanding, Kahneman. Kahneman isn't talking at all about the treadmill. He's talking about what he called the "Focusing Illusion"-- a fancy way of saying "the grass is always greener on the other side..."
Relevant links:
"Beyond the Hedonic Treadmill: Revising the Adaptation Theory of Well-Being" http://www.factorhappiness.at/downloads/quellen/S9_Diener.pd...
Kahneman tried to explain the hedonic treadmill via with his own aspiration treadmill. He claims that he not only failed, but the data were opposite to his hypothesis.
https://www.edge.org/response-detail/10056
Kahneman's paper where that OP misquotes Kahneman from:
http://psiexp.ss.uci.edu/research/teaching/Schkade_Kahneman_...